§ 25.14. Transfer of Ownership to the City.

A.

In those circumstances provided for in this ordinance wherein the City shall have the right to purchase ownership of a Grantee's Cable Television System or any of its assets, the City may give notice that it elects to exercise such right and the City may acquire such assets at the time of payment of the value thereof. In those circumstances where the question of value has been submitted to an appraiser, the City may affirmatively accept the decision of the appraisers within ninety (90) days after the rendering of the appraisers' decision. However, if the City fails to accept or reject the appraiser's decision within the aforesaid ninety (90) day period, the rights of the City to purchase shall expire.

B.

In those circumstances provided for in this ordinance wherein the City shall have the right to purchase ownership of a Grantee's Cable Television System, or any of its assets, no question of value shall be submitted to an appraisal until the parties have attempted to agree on a value and have set forth their determination of the value.

(Ord. of 1-7-1985, Doc. #19125; Ord. of 9-23-1996, Doc. #29666)